Chile: Inflation constant in November
December 7, 2016
Consumer prices rose 0.1% in November over the previous month, slightly below October’s 0.2% increase and beating market expectations of an entirely flat reading. According to the National Statistical Institute (INE), November’s increase reflects higher prices for housing, recreation and culture and household equipment, while the price of clothing, transport and healthcare fell compared to the prior month.
Inflation was 2.9% in November, matching October’s reading, which was the lowest since January 2014. Inflation remains within the Central Bank’s target range of 2.0%-4.0%. Core consumer prices, which exclude volatile categories such as oil, fresh fruit and vegetables, increased 0.2% in November from the previous month, following a 0.1% rise in October. Core inflation increased slightly from 3.0% in October to 3.2% in November.
Author: Oliver Reynolds, Economist